Global crypto trading giant, Binance, recently celebrated a significant milestone in its user following. The platform unveiled that its international followership had bloated to an impressive 200 million, a representation of over a third of crypto holders across the globe.
This achievement propels Binance into the stratosphere, as the first cryptocurrency exchange of its kind to amass such vast numbers. It’s essential to note, though, that these figures are independently reported. Nevertheless, the milestone has not passed unnoticed, with the exchange lauding its achievement on various social media channels, viewing it as a significant leap towards its billion-user target.
Within just two years, Binance has seen an astounding growth in its user base. In 2022, the platform reported approximately 130 million users. Fast forward to 2023, an additional 40 million crypto enthusiasts joined the Binance family, bringing the total count to 170 million. As of June 2024, the count stands at 200 million, with Binance on track to hit 300 million users by 2026, if current trends persist.
The Triple-A research suggests that the install base of global crypto users in 2024 stands at 562 million, a substantial gain from the previous year’s 420 million. If this data is anything to go by, then Binance commands an impressive 36% chunk of the global crypto user base pie.
But it’s not all about users. Earlier this year, Binance broke another record by securing a total user assets volume of $100 billion, translating to an average of $500 in custody assets per user. Despite previous legal run-ins that saw its founder, Changpeng “CZ” Zhao, serving a sentence on fraud charges, Binance seems to have weathered this storm gracefully, boasting both immense capital and user growth in its wake.